Update your trial balance with the following accounts and balances and then answer the questions that follow. Cash Accounts payable Common stock Rent expense Salaries expense Prepaid rent Supplies Required: 134,500 45,000 Salaries payable Service revenue 126,400 Accounts receivable 29,800 116,100 Advertising expense Retained earnings 30,000 Dividends 28,600 Notes payable 5,600 231,700 137,000 46,900 88,200 6,200 32,200 1. What are the total debits and credits on your revised trial balance? Answer is complete but not entirely correct. Total Debits 500,500 Total Credits $ 496,900 2. Assuming the Retained Earnings balance was entered on the wrong side of the trial balance, what would the total debits and credits be? Answer is complete but not entirely correct. Total Debits Total Credits Return 2. Assuming the Retained Earnings balance was entered on the wrong side of the trial balance, what would the total debits and credits be? Answer is complete but not entirely correct. Total Debits 588,700 Total Credits 408,700 3. If a trial balance is in balance, one can assume that all accounting transactions have been recorded for the period. True, if all transactions are recorded then the trial balance will be in balance. False, a trial balance reflects that every recorded transaction has equal debits and credits, not that the entries are complete or correct. (